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Question : Jeremy Fenloch borrowed some money from his friend and promised : 3347

Jeremy Fenloch borrowed some money from his friend and promised to repay him $1,300, $1,380, $1,540, $1,600, and $1,640 over the next five years. If the friend normally discounts investment cash flows at 10.0 percent annually, how much did Jeremy borrow? *(Round answer to 2 decimal places, e.g. 15.25.)*

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Solution
5 (1 Ratings )

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